Iran, Azerbaijan Urged to Accelerate Preferential Trade Agreement Implementation

TEHRAN (Iran News) The call was made during the 17th Joint Economic Cooperation Commission meeting held in Baku, where representatives of the private sector and trade promotion institutions from both countries discussed practical mechanisms to enhance economic engagement. The meeting was attended by Niloufar Asadi, Director General for Asia-Pacific Affairs and representative of the Iran Chamber of Commerce, Industries, Mines and Agriculture, and Gunel Sheikhmammadov, Director of International Affairs at the Azerbaijan Export and Investment Promotion Agency (AZPROMO).

The discussions focused on identifying operational solutions to expand private sector cooperation, evaluating trade and investment opportunities, and addressing existing commercial challenges between the two neighboring countries. Participants agreed that strengthening business-to-business communication would play a key role in improving mutual market understanding.

As part of the dialogue, Asadi highlighted the institutional role of the Iran Chamber of Commerce as a representative and advisory body for the private sector. She noted that the chamber currently supports approximately 80,000 member companies, along with 34 provincial chambers, 40 joint chambers, and 280 trade associations. According to her, the chamber is actively working to help Iranian businesses enter global markets, with special emphasis on opportunities in Azerbaijan, including participation in international exhibitions and commercial events.

The Iranian side proposed the establishment of practical communication mechanisms between economic actors of the two countries. Suggestions included organizing specialized webinars and bilateral B2B meetings in strategic sectors such as agriculture, construction, and energy. Officials believe such direct interactions would help businesses from both countries better understand market requirements, investment conditions, and partnership opportunities.

The proposal was welcomed by Sheikhmammadov, who agreed that joint planning for these events could help remove informational barriers and facilitate market entry for companies on both sides. Both parties stressed the importance of continuous dialogue to support long-term economic cooperation.

Iranian representatives also emphasized the need to accelerate legal and governmental procedures related to trade facilitation and transit development. The completion and signing of the preferential trade agreement was identified as a top priority. Asadi stated that the private sector requires governmental support through such agreements to improve market access conditions.

She further called for coordinated pressure from commercial institutions on respective governments to finalize ongoing negotiations. She argued that lowering tariff barriers would significantly increase bilateral trade volume and improve economic interaction.

In response, Sheikhmammadov confirmed that efforts are underway to accelerate negotiation processes and finalize the strategic agreement. He said that reducing customs tariffs is expected to contribute to expanding the flow of goods between the two countries.

Another key topic discussed was investment cooperation. The Iranian representative announced that the Iran Chamber of Commerce is prepared to distribute information regarding Azerbaijani investment projects among Iranian member companies. This would allow Iranian firms to conduct feasibility studies and explore participation in project management and investment opportunities.

Sheikhmammadov welcomed the proposal and encouraged the introduction of Iranian companies interested in joint investment projects. He added that Azerbaijani partners are ready to provide detailed information about project requirements and investment conditions.

At the conclusion of the meeting, both sides agreed that official correspondence and follow-up communications should be conducted through the international affairs department of the Iran Chamber of Commerce and the relevant Azerbaijani institutions. This arrangement is expected to streamline administrative procedures and accelerate implementation of agreed initiatives.

Officials from both countries reaffirmed that strong political and economic will exists to expand bilateral relations. They emphasized that prioritizing the preferential trade agreement and joint investment cooperation could open a new chapter in economic relations between Tehran and Baku, supporting regional trade integration and long-term development partnerships.